DeFi Technologies Inc. (NASDAQ:DEFT) Stock Has Consensus Price Target of $1.44

DeFi Technologies Inc. (NASDAQ:DEFT) has received an average recommendation of “Hold” from the five research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $1.44.

A number of equities analysts have commented on DEFT shares. Maxim Group lowered shares of DeFi Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Benchmark cut their target price on shares of DeFi Technologies from $2.00 to $1.00 and set a “buy” rating for the company in a research note on Tuesday, August 18th. Weiss Ratings downgraded DeFi Technologies from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Wall Street Zen lowered DeFi Technologies to a “strong sell” rating in a research report on Saturday, August 15th. Finally, Northland Securities set a $1.25 price target on DeFi Technologies in a research report on Monday, August 17th.

DeFi Technologies Price Performance

DeFi Technologies stock opened at $0.53 on Friday. The firm has a market capitalization of $205.70 million, a P/E ratio of 8.83 and a beta of 4.14. The stock has a fifty day moving average price of $0.53 and a two-hundred day moving average price of $0.59. DeFi Technologies has a 52-week low of $0.39 and a 52-week high of $2.31.

DeFi Technologies (NASDAQ:DEFT) last issued its earnings results on Thursday, August 13th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). DeFi Technologies had a net margin of 39.65% and a return on equity of 15.43%. On average, equities research analysts predict that DeFi Technologies will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On DeFi Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Amundi acquired a new stake in shares of DeFi Technologies in the second quarter valued at approximately $40,000. GTS Securities LLC acquired a new position in DeFi Technologies during the 2nd quarter worth $61,000. Public Employees Retirement System of Ohio bought a new position in DeFi Technologies in the 2nd quarter valued at $64,000. Cable Car Capital LP bought a new position in DeFi Technologies in the 2nd quarter valued at $677,000. Finally, Legal & General Group Plc acquired a new stake in shares of DeFi Technologies in the 2nd quarter valued at $185,000.

About DeFi Technologies

DeFi Technologies Inc is a Canadian financial technology company focused on the digital-asset and decentralized finance ecosystem. The company develops and operates businesses that provide investors, institutions and other market participants with access to blockchain-based financial products and services.

Through its Valour brand, DeFi Technologies offers exchange-traded products designed to provide exposure to digital assets, including cryptocurrencies and other blockchain-related investments.